APRIL 2, 2009

A close call for Brawn GP?

Achilleas Kallakis, the entrepreneur and gambler who made much of a bid to buy the team that has become Brawn GP over the winter, is reported to be under investigation by the Serious Fraud Office (SFO) over an alleged $80m property fraud. It is being claimed that, under a different name, he has a previous conviction for selling fake British titles to wealthy Americans.

The SFO raided Kallakis's homes and office recently after the Allied Irish Bank (AIB) became suspicious that the value of leases was being artificially inflated to secure more finance. The SFO says that it believes other financial institutions have been deceived by Kallakis.